Knowledebase Tag: Brokerage Liability Issues
- If I’m a broker who’s exempt from continuing education requirements, do I still have to take the Broker Responsibility course?
- What about programs that offer to pay a real estate agent for names of potential borrowers?
- Some programs offer to make real estate agents part-time employees of the lender. How does this work and is it legal?
- I keep hearing about new RESPA rules that allow real estate agents to sell a buyer a home and earn a loan-origination fee from the lender. Others claim that their programs have been blessed by HUD. What are these new rules and have lenders received HUD approval for these programs?
- How can I help make clear to the IRS that my agents are independent contractors, not employees?
- Even if I do not perform the requisite number of functions to be considered a mortgage broker or do not become a true part-time employee of the lender, can I still be paid something for the work I perform for the lender?
- Is the legal fund ever used for purposes not directly related to REALTORS®?
- Is the legal fund the same as the recovery fund?
- Is the legal fund like an errors and omissions insurance policy?
- Are there any additional restrictions or limitations for access to the legal fund?
